Biggest-ever Israeli IPO paves way for driverless cars Read more: Biggest-ever Israeli IPO paves way for driverless cars | The Times of Israel

The money will give MobilEye the opportunity to develop the next generation of its system — turning drivers into passengers, using “driverless technology.” MobilEye uses a monocular camera that magnifies images, together with sophisticated software that calibrates how much time a drive needs to brake in order to avoid colliding with the vehicle ahead. If the driver gets too close, an alarm goes off, and in some vehicles, the software is connected to the braking system — so that if the driver fails to brake in time, the system does it for him.